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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
 Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing some support to product crack spreads and refining margins. With most refineries now back online in all main regions, refinery intakes have risen steadily, to stand some 1.0 mb/d higher in September compared to the same month last year.
As a result of new refining capacity over the last year, refinery runs during winter are likely to reach new record highs, leading to potentially higher supply in the product markets. At the same time, economic headwinds pointing to a slowdown in manufacturing in the OECD may result in a possible decline in consumption of heavier fuels, weighing on the outlook for product markets over the winter season, while increased competition from ethane and LPG may also bite into demand for products including naphtha and transport fuels. In the US, gasoil consumption is expected to receive support from the manufacturing, construction and freight sectors.
Moreover, a seasonal pick up in heating oil demand this winter is expected, despite increasing substitution by natural gas. Jet fuel markets should also remain supported by an uptick in travel activities, particularly in the holiday season. In contrast, the seasonal decline in gasoline demand in the winter months will once again weigh on prices and ultimately refining economics (Graph 1). This may result in higher gasoline exports in 4Q19 to prevent strong inventory builds and to keep gasoline prices stable. Naphtha crack spreads will also come under pressure and suffer losses as strong LPG output, and lower LPG prices in the US continues to compete with naphtha.
US oil demand growth by main petroleum products, mb, y-o-y change In Europe, the slowdown in transportation fuel demand will continue representing a challenge to product markets. Despite a slight pick-up in gasoline consumption in 1H19, mainly in France, unfavourable economic fundamentals have dampened demand in Germany. Moreover, a mild pick up in gasoline powered vehicle sales observed in France, Italy and Spain has been offset by a decline in overall car sales. The pressure in Europe’s product markets could be further exacerbated by new cracking and other upgrading projects in Russia and Belarus, which is projected to increase regional transport fuel production by the end of 2019.
Furthermore, data reflects a declining trend in product demand in the fourth quarter, particularly for naphtha and residual fuel. In Asia, gasoil markets will remain supported by industrial and transportation demand. However, product balances will most likely soften compared with the previous year, once all refineries restore their operation activities in 4Q19, resulting in excess product supply, particularly for gasoline. Concerning the IMO 2020, a combination of declining heavy crude availability, increased refinery conversion capacity, growing appetite for heavy crude, and stricter sulphur limits on marine bunker fuel are likely to lead to rising prices for low sulphur fuel oil (LSFO). At the same time, the declining availability of high sulphur fuel oil (HSFO) could also hold up prices for that product to some degree.
Together with a mismatch in terms of quality between available and required crude slates for refinery intake, this could provide limited support to processing rates as refineries will have to resort to higher intakes to boost fuel oil or compliant marine fuel production. Graph 2: OECD Europe oil demand growth by main petroleum products, mb, y-o-y change Looking ahead, factors such as the onset of the winter season, healthy demand for middle distillates in Asia, and preparations for IMO should support middle-to-heavy product markets in the coming months. At the same time, uncertainties regarding the global economic outlook, declining car sales and fuel substitution programmes in Europe, and higher products supply from Asia could limit the upward trend in the product markets this winter.
Source: OPEC
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
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